Global equities continued to build on the 2% return earned in September, adding over 3% to the Fund in October. Overall performance was mixed -- returns were 12 basis points (0.12%) below benchmark for the month and 643 basis points (6.43%) above benchmark for the 12-month period ending October 31, 2013.
The net return after the first two months of the plan year stands at 5.3786% (September 1, 2013 through October 31, 2013).
Note that the current fund rate, which is calculated monthly based on reports from both our managers and the Plan's trustee, is now used to determine final values for members who decide to initiate pension benefit payments as well as for those who elect to transfer their account balances following termination or retirement. Active and deferred member balances are updated once each year based on the fund rate of return following our year-end of August 31.
Questions? Contact the Pensions & Benefits Unit of the Department of Human Resources.